Ripple (XRP): the crypto currency that is changing the economy
Ripple XRP is one of the blockchain applications that should never be called a replacement for the banking market. While other cryptocurrencies such as Bitcoin and Ethereum can be an alternative to our current payment system, Ripple is an addition to the banking system. It enables faster, more secure payments at a much lower cost. It is therefore not surprising that banks like Santander already use Ripple’s technology.
A decentralized application – or not quite?
Ripple (XRP) is an odd one when looking at the top three cryptocurrencies.
It is the only one that is not decentralized. Ripple itself has kept a large number of coins in its possession, which makes it more of a centralized currency than a truly decentralized platform.
But is that a disadvantage? Experts do not think so at the moment. The buffer provides security and there is also a clear maximum number of XRP. In total, 100 billion XRP coins are put into circulation according to a predictable schedule. There is no mining, which provides a more stable price base for Ripple. The price of XRP does not drop suddenly because, for example, mining in Norway becomes impossible, as was the case with the Bitcoin.
4 reasons why Ripple (XRP) is so popular
- The technology makes international payments fast and extremely cheap – and there is an increasing demand for this within our global economy.
- High level of security thanks to the ledgers.
- Highly scalable because not everything needs to be jammed into one general ledger
- Adaptive: Ripple technology can be used for all kinds of platforms, codes and other blockchains
The popularity of Ripple (XRP) in the future
There is a significant chance that the demand for Ripple will continue to grow. Large institutions all over the world work together with Ripple, like Santander we mentioned before, but also American Express and SBI Remit are big names that shouldn’t be missed here.
More important is that Ripple is tangible. There is a company behind it, there are countless collaborations and there is more than just a coin: a complete technology for the entire world has been developed. Is that relevant? Yes, because countries in Asia are already working with Ripple, while they want to restrict or ban other cryptocurrencies because there are too many criminal activities possible (according to these governments).
Do I need a wallet if I want to buy Ripple (XRP)?
Ripple (XRP) is very interesting, but at the same time the process is complicated. You need a separate wallet and preferably a hardware wallet for security reasons. That is an investment in itself. Ripple also requires a minimum balance of 20 XRP on the wallet as a wallet reserve.
At Triaconta we make it super easy to invest in Ripple (XRP). At the click of a button you are the owner of the Ripple coins and we make sure that they are safely stored. You can see the value of your investment at any time of the day, adjust it or directly sell the tokens so that you have euros on your account again.